Total Facility Revenues definition

Total Facility Revenues means, for each Accounting Period, all revenues and receipts of every kind derived from operating the Retirement Community and all departments and parts thereof, including, but not limited to: income (from both cash and credit transactions) from monthly occupancy fees, health care fees and ancillary services fees received pursuant to various agreements with residents of the Retirement Community; income from food and beverage, and catering sales; income from telephone charges; income from vending machines; and proceeds, if any, from business interruption or other loss of income insurance, all determined in accordance with GAAP; provided, however, that Total Facility Revenues shall not include: (i) gratuities to employees at the Retirement Community; (ii) federal, state or municipal excise, sales or use taxes or similar taxes imposed at the point of sale and collected directly from residents or guests of the Retirement Community or included as part of the sales price of any goods or services; (iii) proceeds from the sale of FF&E; (iv) interest received or accrued with respect to the monies in any operating or reserve accounts of the Retirement Community; (v) any cash refunds, rebates or discounts to residents of the Retirement Community, or cash discounts and credits of a similar nature, given, paid or returned in the course of obtaining Total Facility Revenues or components thereof; (vi) proceeds from any sale of the Retirement Community, or any other capital transaction; (vii) proceeds of any financing transaction affecting the Retirement Community; (viii) security deposits until such time as the same are applied to current fees and other charges due and payable; (ix) awards of damages, settlement proceeds and other payments received by Tenant in respect of any Litigation other than Litigation to collect fees due for services rendered from the Retirement Community; (x) proceeds of any condemnation; (xi) proceeds of any casualty insurance, other than loss of rents or business interruption insurance; (xii) any Shortfall Payment made by Operator to Tenant pursuant to Section 4.03.B of the Operating Agreement; and (xiii) payments under any policy of title insurance.

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Total Facility Revenues means for the applicable period of time, but without duplication, all gross revenues and receipts of every kind received or derived by or for the benefit of Licensee, Manager or their Affiliates from operating or causing the operation of the Facility and all parts thereof; provided, however, that Total Facility Revenues shall not include the following: the Operating Fee paid by Licensee to Manager pursuant to this Agreement (which, for the avoidance of doubt, shall be based upon Total Facility Revenues and treated as a Facility Expense); gratuities to Facility employees; federal, state or municipal excise, sales, occupancy, use or similar taxes collected directly from Residents or included as part of the sales price of any goods or services, and which are remitted to the appropriate Government Agency; insurance proceeds (except loss of income insurance); condemnation proceeds; and any proceeds from the sale of the Facility or from the refinancing of any debt encumbering the Facility; proceeds from the disposition of furnishings, fixtures and equipment no longer necessary for the operation of the Facility, which shall be deposited in the FF&E Reserve; and interest which accrues on amounts deposited in the FF&E Reserve. Any deposits or other amounts that are refunded to a Resident shall be credited against Total Facility Revenues during the month in which such refunds are made, if previously included in Total Facility Revenues.

Total Facility Revenues means, for the applicable period of time, but without duplication, all gross revenues and receipts of every kind derived by or for the benefit of Tenant, or its Affiliated Persons, from operating or causing the operation of the Leased Property and all parts thereof, including, but not limited to: (i) any and all revenues derived from any and all entry, admittance and similar fees with respect to the Theme Park located on the Land including, without limitation, (a) all daily entry fees/tickets, (b) all annual passes/tickets, (c) all seasonal and other partial-year passes/tickets, (d) all parking passes/tickets, and (e) other tickets, passes or similar items sold through such Theme Park’s entrance gates, off-site sales centers or on-line services that provide entry/admittance to such Theme Park; (ii) the sale of Inventory, (iii) revenue from both cash and credit transactions; (iv) license, lease, sublease and concession fees and rentals; (v) parking fees; (vi) revenue from sponsorships; (vii) revenue from vending machines; food and beverage sales; (viii) retail sales of merchandise net of credits and returns (other than proceeds from the sale of furnishings, fixtures and equipment no longer necessary to the operation of the Business, which shall be deposited in the Reserve); and (ix) service charges; provided, however, that Total Facility Revenues shall not include the following: revenues derived from all video games, games of chance and all other gaming equipment, machinery and related personalty owned by Tenant and located at the Leased Property which require a “gaming” or similar license or permit by the State of Washington in connection with the ownership, use and/or operation thereof; gratuities to employees; employee tax, insurance or other benefit withholdings kept in segregated accounts for the purpose of remitting or paying such items; federal, state or municipal excise, sales, use or similar taxes included as part of the sales price of any goods or services; late fees and interest; insurance proceeds (unless attributable to loss of business revenue, i.e., business interruption proceeds), including proceeds of insurance or credits received in settlement for loss, theft, or damage to property related to or used on the Leased Property and proceeds of insurance received with respect to rent loss, use and occupancy; condemnation proceeds; any proceeds from the sale of Tenant’s Personal Property or any sale of the Leased Property or from the refinancing ...

Examples of Total Facility Revenues in a sentence

For the purposes hereof, the fair market value of the Retirement Community shall mean the dollar amount resulting by multiplying the excess of Total Facility Revenues over Property Expenses during the thirteen (13) full Accounting Periods immediately preceding the Accounting Period in which the calculation is made by ten (10).
Neither: (x) proceeds from the disposition of FF&E; nor (y) interest which accrues on amounts held in the Reserve, shall result in any reduction in the required Reserve payments or be included in Total Facility Revenues.
Neither: (x) proceeds from the disposition of FF&E nor (y) interest which accrues on amounts held in the Reserve, shall result in any reduction in the required Reserve payments or be included in Total Facility Revenues.
In the case of any underpayment of Percentage Rent arising out of variation in Total Facility Revenues from Fiscal Quarter to Fiscal Quarter, the Accrual Date shall be the payment due date for the final installment of Percentage Rent for such preceding Fiscal Year.
In addition, on or before seventy-five (75) days after the end of each Fiscal Year, commencing with the first full Fiscal Year after the Base Year, Tenant shall deliver or shall cause Operator to deliver, to Landlord a statement setting forth the Total Facility Revenues for such preceding Fiscal Year together with a certificate of an officer of the Tenant, or Operator's chief accounting officer during the term of the Operating Agreement, certifying that such year-end statement is true and correct.
For the purposes hereof, the fair market value of the Retirement Community shall mean the dollar amount resulting by multiplying the Total Facility Revenues during the thirteen (13) full Accounting Periods immediately preceding the Accounting Period in which the calculation is made by ten (10).
Such business interruption proceeds shall be considered part of the Total Facility Revenues.
The term “Cash Flow” shall mean all Total Facility Revenues in excess of Facility Expenses.
Such Draft Annual Operating Projection shall be a narrative report including the estimated Total Facility Revenues, Property Expenses and Operating Profits for the forthcoming Fiscal Year for the Facility in comparison to the forecasted gross revenues, operating expenses and operating profit for the current Fiscal Year, taking into account the Retirement Community's market area.
Neither: (x) proceeds from the disposition of FF&E, nor (y) interest which accrues on amounts held in the FF&E Reserve, shall either (aa) result in any reduction in the required contributions to the FF&E Reserve, or (bb) be included in Total Facility Revenues.

More Definitions of Total Facility Revenues

Total Facility Revenues means, for the applicable period of time, but without duplication, all gross revenues and receipts of every kind derived by or for the benefit of Tenant, or its Affiliates, from operating or causing the operation of the Leased Property and all parts thereof allocated over the period in which the revenues are earned and realized (for example, annual dues prepaid in advance shall be allocated and included on a 1/12th basis for each Accounting Period), including, but not limited to: Membership Revenue, greens fees, guest fees, tournament fees, initiation fees, dues, cart rental or fees, club rental or other equipment rental or fees, driving range fees, commissions earned from golf or swimming instruction or lesson fees (excluding the portion thereof collected by Tenant on behalf of independent instructors), and handicap and locker room fees; license, lease and concession fees and rentals; parking fees; income from vending machines; food and beverage sales; retail sales of merchandise (other than proceeds from the sale of furnishings, fixtures and equipment no longer necessary to the operation of the Business, which shall be deposited in the Capex Reserve); and service charges; provided, however, that Total Facility Revenues shall not include the following: (i) gratuities or service charges or other similar receipts which are to be paid to employees or persons occupying similar positions for performing similar duties; (ii) employee tax, insurance or other benefit withholdings; (iii) federal, state or municipal excise, sales, use admission, gross receipt, value added, entertainment or other similar taxes included as part of the sales price of any goods or services; which are payable to governmental authorities; (iv) late fees and interest; (v) insurance proceeds (unless attributable to loss of business revenue i.e., business interruption proceeds); including proceeds of insurance or credits received in settlement for loss, theft, or damage to property related to or used on the Leased Property and proceeds of insurance received with respect to rent loss, use and occupancy; (vi) condemnation proceeds or awards; (vii) any proceeds from the sale of Tenant’s Personal Property or any sale of the Leased Property or from the refinancing of any debt encumbering the Leased Property; (viii) proceeds from the disposition of furnishings, fixture and equipment no longer necessary for the operation of the Business; (ix) interest which accrues on amounts deposited in the Capex...